1 minute ago by Reuters1 minute ago by Reuters1 minute ago by Reuters1 ReadFILE PHOTO: A worker welds a bicycle steel rim at a sports equipment factory in Hangzhou, Zhejiang Province, China, on September 2, 2019. REUTERS via China Daily BEIJING, China (Reuters) – China’s industrial output increased 8.3% year over year in June, down from 8.8% in May, according to official figures released on Thursday. However, the result was higher than the 7.8% increase predicted by analysts in a Reuters survey. In June, retail sales increased by 12.1% over the previous year. After a 12.4 percent growth in May, analysts projected an 11.0 percent increase in June. Fixed asset investment increased 12.6 percent in the first half of the year compared to the same time a year ago, compared to a forecasted 12.1 percent increase and a 15.4 percent increase in January-May. China’s economy has fully recovered from the coronavirus outbreak last year, thanks to pent-up demand and strong international orders for its exports. However, new data suggests that the recovery is losing speed, with rising raw material costs and supply shortages hampering factory activity. Kevin Yao and Roxanne Liu contributed reporting, and Ana Nicolaci da Costa edited the piece./n
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